AXQ Capital LP Purchases Shares of 11,281 Qorvo, Inc. $QRVO

AXQ Capital LP acquired a new stake in shares of Qorvo, Inc. (NASDAQ:QRVO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,281 shares of the semiconductor company’s stock, valued at approximately $1,027,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Qorvo by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock valued at $1,011,453,000 after acquiring an additional 100,058 shares during the last quarter. State Street Corp lifted its position in Qorvo by 5.0% in the second quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after purchasing an additional 175,031 shares during the last quarter. Norges Bank purchased a new stake in shares of Qorvo during the second quarter valued at approximately $153,994,000. LSV Asset Management grew its holdings in shares of Qorvo by 10.0% in the third quarter. LSV Asset Management now owns 1,520,856 shares of the semiconductor company’s stock worth $138,520,000 after purchasing an additional 137,886 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Qorvo by 20.2% in the second quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company’s stock worth $128,975,000 after purchasing an additional 255,068 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on QRVO shares. Susquehanna lowered their price target on shares of Qorvo from $95.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Citigroup decreased their price objective on shares of Qorvo from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 28th. Benchmark reaffirmed a “hold” rating on shares of Qorvo in a research note on Wednesday, January 28th. Cfra reiterated a “hold” rating and set a $122.00 target price on shares of Qorvo in a report on Tuesday, October 28th. Finally, Mizuho cut their target price on Qorvo from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company. Based on data from MarketBeat.com, Qorvo has an average rating of “Hold” and an average price target of $93.56.

Qorvo Trading Up 0.3%

Shares of NASDAQ QRVO opened at $82.46 on Tuesday. Qorvo, Inc. has a 1 year low of $49.46 and a 1 year high of $106.30. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.67 and a quick ratio of 2.89. The firm has a 50-day moving average of $82.99 and a 200 day moving average of $87.19. The stock has a market cap of $7.64 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 1.43 and a beta of 1.37.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.24. Qorvo had a net margin of 9.11% and a return on equity of 14.57%. The firm had revenue of $993.00 million during the quarter, compared to analyst estimates of $984.10 million. During the same period last year, the business earned $1.61 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. As a group, sell-side analysts expect that Qorvo, Inc. will post 4.09 EPS for the current fiscal year.

About Qorvo

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.